Govt Approves “Ease Of Doing Business” Reforms In Manufacturing And Financial Services Sectors

The Government, through Cabinet, has approved a broad package of regulatory reforms aimed at making it easier to do business, cutting compliance costs and driving growth across key sectors of the economy.

Minister of Finance, Economic Development and Investment Promotion Mthuli Ncube said on Tuesday, 12 May, that the reforms are part of ongoing work to modernise the regulatory environment, improve efficiency, attract local and foreign investment, and support the growth of Micro, Small and Medium Enterprises (MSMEs).

“The measures are further designed to eliminate administrative bottlenecks, promote business formalisation and ensure that regulatory frameworks are facilitative rather than restrictive, while maintaining appropriate safeguards and standards,” said Ncube.

In the manufacturing sector, the Government has approved several measures to ease costs. These include cutting the Ministry of Industry import licence fee from US$100 to US$50 for most items, capping NSSA boiler registration fees at US$500, and reducing both NSSA factory approval plan fees and local authority factory licence approval fees by 50%. Rural District Council timber transportation permits will also be abolished.

“These interventions are expected to significantly lower production and compliance costs, thereby improving the competitiveness of locally produced goods in both domestic and export markets,” said the Minister. “The reforms will also promote re-industrialisation, enhance capacity utilisation and support the formalisation and growth of MSMEs within manufacturing value chains, ultimately contributing to increased industrial output, job creation and sustained economic growth.”

In financial services, the Cabinet approved a range of measures to lower costs. The Reserve Bank of Zimbabwe (RBZ) banking supervision fee will be cut to 0.007% of assets, capped at US$40,000.

Zero-cost bank accounts will be introduced for MSMEs, while cash withdrawal fees for both USD and ZiG transactions will be reduced.

RBZ licence fees for ADLA rural branches will be abolished, and mobile money transfer charges will come down.

The Securities and Exchange Commission’s registration and licence fees will be cut by 50%, and the duty on ATM equipment will be reviewed and reduced.

“These measures will lower the cost of financial services and transactions, increasing access to banking—particularly for MSMEs and underserved communities,” Ncube said.

“They are also expected to promote digital financial inclusion, improve liquidity circulation and strengthen participation in the formal financial system.

“Over time, this will support business expansion, improve access to capital and enhance confidence in the financial sector.”

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